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Mozo property expert Steve Jovcevski expects prices to further cool in the major housing market of Sydney, while Melbourne will enjoy a spike in property values.
 Brisbane houses should slowly increase while Hobart will continue to be the star performer.
 
Sydney – property market decrease of -5%
The Sydney housing market plateaued in 2017 and will drop slightly over 2018, but we’re unlikely to see a dramatic bubble burst. Signs pointing to a slower market include lower clearance rates and higher than average housing supply. Clearance rates could continue to be low in Sydney due to rampant under-reporting of sale prices by agents. It is possible that actual clearance rates are even lower than reported. The market is expected to pick up in Autumn but the Spring season, typically a boom period for the Sydney property market, will be tough in 2018. First home buyer demand will be stronger, due to lower competition and ongoing low rates.
 
Melbourne – property market increase of 5-7%
Melbourne will continue to be a first home buyer’s market with more affordable housing in comparison to Sydney. Melbourne is experiencing strong population growth and while the market will continue to grow, it will slow compared to the 10% growth experienced in 2017. It is anticipated that Melbourne clearance rates will also drop from 70% to 60% due to the slowing of first home buyer activity and a drop in pent-up demand. Apartment markets may struggle due to oversupply issues in some inner-city locations.
 
Perth – property market increase of 2-4%
The Perth housing market has stabilised in the last quarter although the market experienced a slight housing price drop over the last year. The Perth housing market has struggled over the past few years and is now set to enjoy a small amount of growth which will continue to climb. The city boasts an affordable first home price point compared to other major metropolitan areas in Australia and is experiencing steady population growth. The local economy is slowly strengthening after overcoming the mining collapse and now enjoys a more secure local economy.
 
Canberra – property market increase of 7%
Low vacancy rates continue to support the Canberra property market with an adequate supply of interstate investors seeking good yield. Demand in the first buyer space continues and the local economy remains consistently strong. Migration to Canberra also continues as Australians seek out the capitals excellent job market, lifestyle opportunities and housing affordability.
 
Brisbane – property market increase of 5%
Brisbane has experienced steady population grown due to the affordable lifestyle it offers. Many Australians are migrating to Brisbane from more expensive city centres due to housing affordability and a stable local market. 2017 saw a steady increase of 4-5% and it is predicted this slow and steady rise will continue for years to come. Apartment markets may struggle compared to houses due to an oversupply in some areas.
 
Hobart – property market increase of 10%
Hobart posted a whopping 12% growth in the past year, and is expected to experience similar growth in 2018. Compared to other Australian metropolitan centres, Tasmania boasts some of the country’s most affordable housing. With close proximity to Melbourne, low vacancy rates and consistently high rental demand it is an excellent investment prospect. The local economy continues to improve and lifestyle migration is expected to be a major factor in driving up house prices. 
 
Adelaide – property market increase of 3-4%
Slow is steady is the track record for Adelaide's housing market and this continues in 2018. The ideal market for investors, housing prices are not prone to sharp price rises and dips. In the last year, Adelaide enjoyed a 3-4% price increase and this is expected for 2018. An increase in new apartments may increase house prices slightly, but generally, Adelaide will enjoy slow and consistent property growth.
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j.ballantyne1990-6AQqhLzZaK

Hobart to remain the property star in 2018: Mozo's Steve Jovcevski 

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Jo Masters, the senior economist at ANZ, has gone against no movement consensus with her big call that there will be two interest rate rises this year. 
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<div class="m_8380867177741228828gmail-cq-article-content-paras m_8380867177741228828gmail-section">
She forecasts the RBA will take the cash rate from 1.5 per cent to 2 per cent during 2018.
Masters, the Chatswood based tennis playing mother of two, tips the first central bank move is likely to be in May, with one more in the second half of the year. She sees none happening in 2019.
She concedes it does depend on the February wage growth data release.
It will be the first rate hike in eight years, coming at a time when household debt to disposable income is at record highs.
Master's wonders just how households will respond noting it will be critical for retail consumption and ofcourse the housing market.
Masters operates by the view that its always better to have a view and be wrong, than have no view at all.
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<div class="m_8380867177741228828gmail-cq-article-content-paras m_8380867177741228828gmail-section">
 
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ANZ's Jo Masters makes non-consensus 2018 cash rate call

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Sydney home values could fall up to 10 per cent over the next two years, Corelogic head of research Tim's Lawless has predicted.
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"We expect values in Sydney to fall between 5 to 10 per cent over an 18 to 24 month period," Lawless told Fairfax Media given tighter credit policies will hurt Sydney more than other capitals given it was more exposed to investors.
"Be cautious because you don't want to buy and see yourself in negative equity straight away," he said.
CoreLogic expects softer national housing market conditions through 2018, driven by the Sydney slowdown and Melbourne, but to a lesser extent.
"We're likely to see lower to negative growth rates across previously strong markets, more cautious buyers, and ongoing regulator vigilance of credit standards and investor activity," Mr Lawless anticipates.
Unlike when capital city dwelling values fell by 1.6 per cent between late 2015 and early 2016, growth rates won't rebounded this time, he forecast.
He said it was not likely there would be a "similar lifeline thrown to the housing market" via either lower interest rates or loosening credit conditions.
</div>
Sydney property values fell 0.9 per cent in the month of December 2017, leading a 0.3 per cent fall nationally in dwelling values.
Sydney property values fell 2.1 per cent over the December quarter to end up just 3.1 per cent for the year at a median of $895,000.
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<div><img src="http://www.afr.com/content/dam/images/h/0/c/9/l/y/image.imgtype.afrArticleInline.620x0.png/1514846784962.jpg" alt="Dwelling value changes over 2017" width="620" data-src="http://www.afr.com/content/dam/images/h/0/c/9/l/y/image.imgtype.afrArticleInline.620x0.png/1514846784962.jpg"></div>
<div>"The city's annual rate of growth is now tracking at just 3.1 per cent; a stark difference to the recent cyclical peak when values were rising at the annual rate of 17.1  per cent only seven months ago," Lawless noted.</div>
<div> </div>
<div>"Despite the reversal in growth rates since August 2017, Sydney dwelling values remain 70.8% higher than their cyclical low point in February 2012."</div>
<div> </div>
<div>"[Melbourne's] housing market has been far more resilient to negative growth compared with Sydney due to factors such as stronger population growth, lower affordability hurdles and a higher rate of jobs growth, however the growth trend has been clearly moderating since late 2016 and Melbourne's annual rate of capital gain, at 8.9 percent, has fallen below double digits for the first time in eleven months," Mr Lawless said.</div>
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Sydney property buyers cautioned about negative equity with 5 percent to 10 percent price falls tipped

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Baker Andrew Connole, one of Australia’s oft-cited business success stories, secured the pre-Christmas sale of his Point Piper waterfront home.

There is no sale price guide by Bill Malouf, of LJ Hooker Double Bay, but the $18 million sale next door two years ago by South African-born insurance industry chief Richard Enthoven was an easy comparison for buyers.

The private jetty and deepwater pontoon front a harbourside pool, and a four-level residence with a lift, formal and informal living areas, study, parent’s retreat with a dressing room and sunroom with a spa.

The Wunulla Road residence, Bellata, was named after the town 570 kilometres northwest of Sydney where his dad Kerry Connole dreamed of restoring an old bakery to its former glory.

<div class="in-content-ad"> </div>

<div class="in-content-ad">Bellata was renovated after his $9.7 million settlement in 2011 when he bought it from architect Harold Finger and wife Rebecca.</div>

<div class="in-content-ad">
Overlooking the Royal Motor Yacht Club and Rose Bay, the refurbished home on 568 sqm.

It comes complete with its own jetty and deepwater pontoon.

Spanning four levels, connected by a lift, the home has four bedrooms, four bathrooms, two powder rooms and also home office.

The master suite with spa bath comes with terrace and dressing room.

The downstairs wine cellar extends to another terrace which has a waters' edge infinity pool.

LJ Hooker Double Bay agents Bill Malouf and Sophie Beaumont were marketing the home.

<div class="in-content-ad">It was from those humble beginnings that Sonoma Baking Company was founded in the late 1990s.</div>

Connole's father bought an old abandoned and derelict bakery that he had a vision to restore with Andrew and Andrew's brother Christian.

Andrew headed to California to learn about artisan sourdough from Chad Robertson of Tartine Bakery, one of the the industry's finest.

<h2>NSW properties selling now:</h2>

[smartcode_project:default project_id=7317]

[smartcode_project:default project_id=24323]

[smartcode_project:default project_id=32227]

 
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Baker Andrew Connole sells Point Piper waterfront

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<div>Toni Collette and her husband Dave Galafassi have sold at Pearl Beach on the NSW Central Coast.</div>
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<div>It was co-owned by Collette’s parents Judith and Bob.</div>
</div>
<div>
The Hollywood star Toni Collette, her husband musician Dave Galafassi secured $1.4 million through McGrath Gosford.
The <a href="https://www.realestate.com.au/property/30-tourmaline-ave-pearl-beach-nsw-2256" target="_blank">four-bedroom, three bathroom weatherboard</a> set some 300 metres walk from the beach on Tourmaline Avenue last traded in the property boom of 2004 at $1.4 million.
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Toni Collette's Pearl Beach family home fails to show any price growth

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Australia’s housing market will likely record moderated dwelling price rises in 2018, with Melbourne again being the top mainland performer, according to SQM housing expert Louis Christopher in his end of year review.
In 2018, Mr Christopher expects national house prices to rise between four and eight percent.
It will be led on the mainland by Melbourne with a gain of seven to 12 per cent.
Hobart will be even stronger at eight to 13 per cent.
SQM tips Canberra will show five to nine per cent price growth.
 Sydney house prices are forecast to rise four to eight per cent. 
Perth will tick over into mildly positive territory, with small gains tipped in Adelaide and Brisbane.
His SQM tips are unamended from his full October annual report.
His tips of between 4 percent to 8 percent in 2018 represent a fall from a growth rate of what has been around 4.2 percent national growth over the past 12 months with a national median price of $549,000, well below the 5.8 percent rise in values in 2016 and 9.2 percent gain in 2015.
Melbourne’s property market will lose some momentum, according to predictions in Christopher’s Housing Boom and Bust Report. 
Offsetting a slowdown in Melbourne and Sydney will be first-year property market recoveries for Perth and Darwin and the ongoing boom in Hobart’s property market, which is set to record the highest level of price growth of any capital city at between 8 percent to 13 percent, Christopher said.
Click here <a href="https://www.propertyobserver.com.au/images/2017/10/18/Crash1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/18/Crash1.jpg" alt="">
 
SQM Research tipped 2017 capital city house price growth to have been between six to 12 per cent - with Corelogic daily index showing a 4 percent rise across its five capital city index for 2017.
The SQM Research boss acknowledges his 2017 forecast for Sydney house prices to surge 11 to 16 per cent was an over-estimate, according to The Australian Financial Review, given APRA moved earlier that Christopher anticipated.
"The Sydney market was picking steam earlier this year. But APRA acted earlier than we forecasted. Our forecast assumed they would step in the market sometime in the third quarter," he said.
Christopher acknowledged the APRA move was "prudent."
"At the end of the year the market was flat with a number of areas recording some price falls," <a href="https://www.propertyobserver.com.au/https://vimeo.com/247084937" target="_blank">he told a Harris Partners Talking property vimeo</a>.
It was March when the Australian Prudential Regulation Authority announced all deposit-taking institutions were to cut back on origination of interest-only loans to a maximum 30 per cent of total lending.
"Sydney was an overvalued market to begin with so was more susceptible," Christopher advised as to why Sydney bore the brunt of the turndown.
SQM's 2017 Boom and Bust Report scenario forecasted an acceleration of dwelling price rises in Sydney and Melbourne with Sydney dwelling prices forecasted to rise 11 percent to 16 percent for the 2017 calendar year, while Melbourne was forecasted to rise by 10 percent to 15 percent.  
<div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2016/11/11/Screen%20Shot%202016-11-11%20at%209.46.04%20AM.png" target="_blank">Click to enlarge</a></div>
<div><img src="https://www.urban.com.au/images/2016/11/11/Screen%20Shot%202016-11-11%20at%209.46.04%20AM.png" alt=""></div>
<div> </div>
</div>
<div>The forecast assumed a stable interest rate environment, a stable exchange rate and no further home lending restrictions by APRA until late 2017. </div>
<div> </div>
<div>"I think the odds are reasonably high that APRA is going to remain relatively quiet over the course of 2018, and indeed we are aware the banks are now under the required threshold set by APRA for investor credit growth and interest only loans, so the banks actually have a buffer to expand their lending book next year," Christopher said last month.</div>
<div> </div>
<div>"We are a little bit more positive than perhaps some analysts for Sydney (in 2018)," Christopher affirmed.</div>
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House price growth forecast for 2018 across Australia: SQM

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A vacant residential property tax (VRPT) was introduced from 1 January 2018 in Victoria. From January 1, the new 1 per cent Vacant Residential Property Tax will apply to properties in 16 councils that are not occupied for six months of the year. The Victorian Government introduced this tax with the claim it would help address the lack of housing supply in Victoria.
If you own a property in one of the affected Melbourne council areas and it was unoccupied for six months or more between 1 May and 31 December 2017, you must notify State Revenue Victoria by 15 January 2018.
As the legislation was only introduced into the Victorian Parliament in May 2017, homes will be considered to have been occupied between 1 January and 30 April 2017. This means, for the 2017 calendar year, homes will only need to be occupied for a further two months between 1 May and 31 December to be considered to have been occupied for more than six months.
Its compliance program will look at both non-reporting of vacant properties and incorrect exemption claims.
<ol>
<li>What is the vacant residential land tax?</li>
</ol>
The vacant residential land tax (commonly referred to as the vacant residential property tax or vacancy tax) is a tax on residential properties in the inner and middle suburbs of Melbourne which are unoccupied for more than six months a year.
<ol start="2">
<li>What is meant by "vacant"?</li>
</ol>
A property will be considered vacant if it was unoccupied for more than six months in the preceding calendar year by:
The owner, or the owner’s permitted occupier, as their principal place of residence, or
A person under a lease or short-term letting arrangement
The six months does not need to be continuous.
<ol start="3">
<li>When does the tax start?</li>
</ol>
The tax will apply from 1 January 2018 and is based on use and occupation in the preceding year. For example, tax liabilities for the 2018 tax year will based on vacancy in 2017, tax liabilities for the 2019 tax year will based on vacancy in 2018 and so on.
<ol start="4">
<li>Does the tax apply to all residential properties in Victoria?</li>
</ol>
No. The tax will only apply to vacant residential properties located in the following local council areas:
Banyule
Bayside
Boroondara
Darebin
Glen Eira
Hobsons Bay
Manningham
Maribyrnong
Melbourne
Monash
Moonee Valley
Moreland
Port Phillip
Stonnington
Whitehorse
Yarra
<ol start="5">
<li>How much is the tax and how is it calculated?</li>
</ol>
This is an annual tax of 1 per cent of the capital improved value (CIV) of taxable land. For example, if the taxable land has a CIV of $500,000, the tax will be $5000, if the taxable land has a CIV of $1,000,000, the tax will be $10,000.
The CIV of a property is the value of land and buildings as determined by the general valuation process. The CIV of a property is displayed on your council rates notice. It is not always displayed on all four quarterly rates notices, but will always appear on the first notice issues in the financial year.
<ol start="6">
<li>Are there any exemptions?</li>
</ol>
Yes. In addition to existing exemptions for land tax purposes, there will be several new exemptions which will apply to the vacant residential land tax. These include exemptions for:
Holiday homes, (see point 7 below)
City apartments/homes/units used for work purposes, (see point 8 below)
Property transfers during the year, (see point 9 below) and
New residential properties (see point 10 below)
<ol start="7">
<li>When is a holiday home exempt?</li>
</ol>
The holiday home exemption will apply to properties which are occupied as a second home by the owner for at least four weeks in the year.
This exemption will be subject to the following conditions:
The land owner must have had a principal place of residence in Australia in the preceding year, and
The Commissioner of State Revenue must be satisfied that the property for which the exemption is being sought is a genuine holiday home
An owner will only be able to claim the exemption in respect of one holiday home in a calendar year.   
<ol start="8">
<li>When is a residential property used for work purposes exempt?</li>
</ol>
This exemption is designed for properties owned and used by people who stay in the inner and middle suburbs of Melbourne for work purposes, but whose principal place of residence is elsewhere in Australia.
The exemption will apply to properties that are occupied for at least 140 days a year for the purpose of attending the owner’s workplace.
This exemption will be subject to the following conditions:
The land owner had a principal place of residence in Australia in the preceding tax year, and
The place of work must be in one of the specified local council areas
<ol start="9">
<li>What if a property changes ownership during a year?</li>
</ol>
Land that changes ownership during the year will be exempt from the tax in the following calendar year. For example, if a property is sold and transferred during 2018, it will be exempt from the tax for the 2019 tax year.
<ol start="10">
<li>What if a property is converted to residential premises during a year?</li>
</ol>
Land that becomes “residential land” during the year will not be subject to the vacant residential land tax in the following calendar year. For example, if a warehouse is converted into residential apartments during 2018, it will be exempt from the vacant residential land tax for the 2019 calendar year.
<ol start="11">
<li>How will the SRO know if you have vacant property?</li>
</ol>
Owners of vacant residential properties located within the specified local council area will be required to notify the Commissioner of State Revenue by 15 January in each year, and provide any information that the Commissioner requests. If a property is eligible for an exemption, the land owner will be asked to notify the SRO and advise which exemption applies.
If an owner fails to make a notification by 15 January, it will be a notification default and may be subject to penalty tax under the Taxation Administration Act 1997.
The State Revenue Office will conduct monitoring and compliance activities to ensure that vacant residences are being declared as required. Their compliance program includes comparing their data with other state and federal agencies, and conducting investigations into suspected avoidance. For example they may check water usage with relevant water authorities as a lack of water usage is a good indicator that a property is vacant.
<ol start="12">
<li>Does the tax apply to properties leased through online platforms?</li>
</ol>
Yes. If a property in one of the specified local council areas is leased through an online platform such as AIRBNB, it will be subject to the tax if it is unoccupied for more than six months in a calendar year. The six months does not need to be continuous.
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Vacant Melbourne property owners need to meet January 15 notification deadline

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After 150 plus years of ownership by the same family, the Deasy family have sold their 322-hectare Hunter Valley property.
Rockview has been run by five generations of the Deasy family.
It’s now <a href="https://www.realestate.com.au/sold/property-other-nsw-pokolbin-7709215" target="_blank">the largest grazing property</a> in the Pokolbin area.
It’s the first time the Deasys Road land has been marketed since Jeremiah Deasy hopped off a boat from Ireland and took ownership of the property in the days of selection in the 1860s.
In subsequent years the property was used as a fruit bottling company called Lighting, which was run from the back sheds of the property by indentured, orphaned labourers. The remnants of this bottling plant still remain.
At one point a school was built on the property.
The bodies of children who died at the property over the years are buried in the property in an area called The Cultivation.
The property is a cattle grazing property but given its location in the Hunter Valley it does come with a vineyard.
In a grove of fig trees sits the original timber homestead, which is currently used as a weekend getaway for the Malouf and Quinn families – descendants of the Deasy family.
The well-grassed rolling hills of Rockview are only interrupted by a patch of eucalyptus trees.
The farm is equipped with cattle yards and water from a number of dams. An allocation is available from the Lower Hunter Wine Country Private Irrigation district.
The property was being marketed to developers. There is a current development approval from Cessnock City Council for an eight lot (40 hectare) rural subdivision.
The property’s zoning allows for resorts, wineries and restaurants.
Jurd's Real Estate Cessnock had initial hopes of more than $5 million, with its 2012 expressions of interest campaign.
 
 
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Rockview, Pokolbin sold by Deasy family after 150 years

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The trial of the Banksia Group proceedings which had been scheduled to commence in February 2018 has been vacated by the Supreme Court of Victoria. 
Instead the court will be hearing the plaintiff’s application for the approval of a settlement.
It has been listed for 30 January 2018 before the Honourable Justice Croft of the Supreme Court of Victoria.
Banksia investor Laurence Bolitho of Kyabram was the lead plaintiff in the case which was scheduled to run for 2.5 months.
The plaintiff has entered into a settlement of his claims made against the trustee in the Banksia Group proceedings. The plaintiff’s claim against the trustee was to recover a sum in excess of $200 million (inclusive of interest from 24 December 2012).  The settlement will only take effect if it is approved by the Supreme Court of Victoria.
As well as settling the Plaintiff’s claim in the <a href="http://www.banksiagroup.com.au/Pages/Banksia_Mortgage_Fund.aspx" target="_blank">Banksia Group</a> Proceeding, Banksia’s own claims against the trustee brought in a separate proceeding (“Liquidators’ proceeding”) will be settled as part of the settlement. Banksia’s claim against the trustee is for approximately $170 million.  The loss claimed by Banksia overlaps with the Plaintiff’s claim in the Banksia Group Proceeding.  The law prevents debenture holders recovering more than the total amount of their loss.
To settle the claims made in both the Banksia Group Proceeding and the Liquidators’ proceeding, the trustee will:
<ul>
<li>pay $64 million;</li>
<li>release Banksia from an existing claim for $3.96m for additional remuneration in respect of additional work performed by the trustee in a period of 16 months from 25 October 2012 to February 2014; and</li>
<li>release Banksia from any further claims for remuneration (as yet unquantified).</li>
</ul>
Subject to their agreeing to keep its contents confidential, group members represented in the Banksia Group Proceeding are entitled to inspect the deed of settlement.  
The Plaintiff has not settled his claims made against Banksia itself, however, the prospect of any recovery from Banksia is uncertain as Banksia has been placed into liquidation.
Meanwhile Banksia is pursuing claims against its insurance broker and insurers and Banksia is hopeful of recovery in those actions. 
The Liquidators (acting as Special Purpose Receivers) hold approximately $14 million.
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Banksia Securities class action nears settlement

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Coorparoo, a luxury Gundaroo home in the NSW Southern Tablelands, has been listed for sale. 
Designed by London based Australian architect Alan Higgs, Cooraparoo was created with a contemporary pavilion design in 2004.
The rural retreat high above the Yass River sits on 88 hectares, complete with over 7,000 trees planted in the last 13 years.
Constructed of rammed earth with 300 mm solid walls, the Yass River Road home has five bedrooms and three bathrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/13/cooparoo2.jpg" alt="">
There's indoor and outdoor entartaining across three living areas which spill out to a large central deck with reflection pool.
A covered verandah overlooking the park-like gardens and swimming pool.
A rammed earth barn has been approved to renovate. 
McGrath Dickson agents Christopher Dixon and Alexandra Charley are marketing the home.
It has reported $1.8 million hopes. 
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Alan Higgs-designed Gundaroo, Southern Tablelands home for sale

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Staff reporter

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